Churchill Downs Inc. (CHDN) Receives Outperform Rating from Imperial Capital
Imperial Capital reiterated their outperform rating on shares of Churchill Downs Inc. (NASDAQ:CHDN) in a research note issued to investors on Friday. Imperial Capital currently has a $165.00 target price on the stock, up from their prior target price of $145.00.
Several other equities analysts have also issued reports on CHDN. Zacks Investment Research raised shares of Churchill Downs from a strong sell rating to a hold rating in a report on Tuesday, July 12th. Telsey Advisory Group lifted their price objective on shares of Churchill Downs from $173.00 to $176.00 and gave the company an outperform rating in a report on Friday, August 5th. Gabelli upgraded shares of Churchill Downs from a hold rating to a buy rating in a research note on Friday, August 5th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Churchill Downs in a research note on Thursday, September 22nd. They issued a neutral rating and a $160.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Churchill Downs presently has a consensus rating of Buy and an average target price of $162.17.
Churchill Downs (NASDAQ:CHDN) traded up 0.17% during trading on Friday, reaching $142.53. 8,476 shares of the company’s stock traded hands. The stock has a market capitalization of $2.35 billion, a P/E ratio of 29.12 and a beta of 0.89. Churchill Downs has a 12 month low of $118.76 and a 12 month high of $152.98. The company has a 50-day moving average of $147.43 and a 200 day moving average of $137.51.
Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings data on Thursday, August 4th. The company reported $4.11 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.56 by $0.55. The company had revenue of $438.50 million for the quarter, compared to analyst estimates of $435.37 million. Churchill Downs had a net margin of 6.59% and a return on equity of 12.99%. Churchill Downs’s revenue was up 7.2% compared to the same quarter last year. During the same period last year, the company posted $3.10 earnings per share. On average, equities research analysts expect that Churchill Downs will post $5.94 earnings per share for the current fiscal year.
In other news, Director Robert L. Evans sold 5,000 shares of Churchill Downs stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $148.75, for a total transaction of $743,750.00. Following the completion of the sale, the director now directly owns 189,235 shares in the company, valued at $28,148,706.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 19.05% of the company’s stock.
Several large investors have recently bought and sold shares of CHDN. Boothbay Fund Management LLC bought a new stake in Churchill Downs during the first quarter valued at approximately $270,000. A.R.T. Advisors LLC increased its stake in Churchill Downs by 210.5% in the first quarter. A.R.T. Advisors LLC now owns 6,638 shares of the company’s stock valued at $981,000 after buying an additional 4,500 shares during the last quarter. HBK Investments L P bought a new stake in Churchill Downs during the first quarter valued at approximately $680,000. Wellington Management Group LLP increased its stake in Churchill Downs by 1.0% in the first quarter. Wellington Management Group LLP now owns 82,836 shares of the company’s stock valued at $12,250,000 after buying an additional 824 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Churchill Downs by 7.5% in the first quarter. Geode Capital Management LLC now owns 91,320 shares of the company’s stock valued at $13,504,000 after buying an additional 6,339 shares during the last quarter. Institutional investors and hedge funds own 72.13% of the company’s stock.
Churchill Downs Company Profile
Churchill Downs Incorporated is a racing, gaming and online entertainment company. The Company operates in six segments: Racing, Casinos, TwinSpires, Big Fish Games, Inc (Big Fish Games), Other Investments and Corporate. The racing segment includes its four trace tracks: Churchill Downs Racetrack, Arlington International Race Course, Fair Grounds Race Course and Calder Race Course.
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